Evergrande New Energy Automobile Group Vice Chairman Arrested on Suspicion of Illegal Crimes

Evergrande New Energy Automobile Group (Hangda Automobile), an electric vehicle (EV) manufacturer affiliated with China Evergrande Group, a major real estate developer in China, announced on the 8th that its vice chairman, Liu Yongbang, has been retained suspicion of “illegal crimes.” Published. The details were not disclosed. Photograph taken in October 2021 in Tianjin (2024 Reuters / Yilei Sun)

[８日 ロイター] – Evergrande New Energy Automobile Group (0708.HK), an electric vehicle (EV) manufacturer affiliated with China Evergrande Group (3333.HK), a major real estate developer in China, announced on the 8th that Vice Chairman Liu Yongbang that he had been arrested on suspicion of “illegal crimes.” The details were not disclosed.

Evergrande Automobile shares, which were suspended from trading the morning before the announcement, plunged 23% in trading after they resumed trading.

On the 1st of this month, the company announced that its plan to issue new shares to NWTN (NWTN.O), a United Arab Emirates (UAE) electric vehicle manufacturer listed in the United States, had been scrapped, and that stock price has fallen 18.6% in a week.

The parent company, China Evergrande Group, also announced in September last year that its founder and chairman, Xu Jiayin, had been subject to enforcement measures based on the law on suspicion of illegal activities. See more

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